SINGAPORE (Reuters) -The New Zealand dollar made solid gains on Thursday in the wake of an upbeat business outlook survey, while the U.S. dollar failed to sustain its bounce in the run up to a key U.S. inflation reading at the end of the week. Friday's release of the core personal consumption expenditures (PCE) price index - the Federal Reserve's preferred measure of inflation - headlines a week that's otherwise been lacking on major market moving data, leaving currencies mostly rangebound. Still, the kiwi was a notable outperformer in the Asian session, scaling an eight-month top $0.6295 after a survey out on Thursday showed New Zealand's business confidence jumped in August to the highest level in a decade.
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Morning Bid: Nvidia watch party over, back to inflation vigil
It is a sea of red in Asia as AI darling Nvidia failed to meet expectations of investors who were not satisfied with its profits, revenue and outlook simply beating the Street. Nvidia shares have rallied more than 150% this year thanks to insatiable demand for generative artificial intelligence (AI), so the 7% drop in its shares after-hours could turn out to be just another dip to buy into the world's second-most valuable company. Taiwan-listed shares of chipmaker TSMC slid 2%, Nasdaq futures dropped 0.7%, and Europe is set for a lower open, with EUROSTOXX 50 futures off 0.2%.
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